ST Council's Recommendations: What's Getting Expensive And Cheaper
New Delhi:
The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman on Saturday, announced several key recommendations to streamline tax processes and offer relief to individuals and businesses.
Here are the major decisions:
What's Getting Cheaper?
Fortified Rice Kernels (FRK): GST reduced to 5 per cent when supplied through the Public Distribution System (PDS), aimed at helping weaker sections of society.
Gene Therapy: Fully exempt from GST, making treatments more affordable.
Food Preparations for Free Distribution: A concessional 5 per cent GST rate extended to food inputs supplied under government programs for economically weaker sections.
Systems for Long Range Surface-to-Air Missile (LRSAM) Assembly: IGST exemption on systems, sub-systems, and tools used for LRSAM manufacture.
Inspection Equipment for IAEA: IGST exemption on imports of equipment and consumable samples for inspection by the International Atomic Energy Agency.
